Detailed Single Year Tables

Description of Proposed Provision:
Eliminate the taxable maximum in years 2015 and later, and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum.

&nbsp

Financial Estimates for the OASDI Trust Fund Program

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

&nbsp

Expressed as a percentage of present-law taxable payroll

Trust fund ratio as of January 1

Expressed as a percentage ofpresent-law taxable payroll

Calendaryear

Costrate

Incomerate

Annualbalance

Costrate

Incomerate

Annualbalance

2014

13.95

12.67

-1.29

320

0.00

0.00

0.00

2015

13.97

15.17

1.21

306

0.00

2.25

2.25

2016

13.96

15.28

1.32

308

0.00

2.39

2.40

2017

13.97

15.31

1.34

309

0.00

2.40

2.40

2018

14.02

15.33

1.31

310

0.00

2.39

2.39

2019

14.16

15.32

1.17

310

0.01

2.38

2.37

2020

14.35

15.32

0.97

309

0.02

2.36

2.34

2021

14.53

15.33

0.80

309

0.03

2.35

2.32

2022

14.78

15.35

0.57

307

0.04

2.34

2.30

2023

15.06

15.35

0.29

304

0.05

2.32

2.27

2024

15.34

15.37

0.03

299

0.07

2.32

2.25

2025

15.63

15.39

-0.23

295

0.08

2.32

2.24

2026

15.89

15.41

-0.48

290

0.10

2.33

2.23

2027

16.15

15.43

-0.71

284

0.12

2.33

2.21

2028

16.38

15.45

-0.93

279

0.14

2.33

2.19

2029

16.59

15.47

-1.13

274

0.16

2.34

2.18

2030

16.78

15.48

-1.30

268

0.18

2.34

2.16

2031

16.94

15.50

-1.45

261

0.20

2.34

2.14

2032

17.08

15.51

-1.57

254

0.22

2.34

2.13

2033

17.19

15.52

-1.67

247

0.24

2.35

2.11

2034

17.29

15.53

-1.76

239

0.26

2.35

2.09

2035

17.37

15.54

-1.83

231

0.28

2.35

2.07

2036

17.42

15.55

-1.88

223

0.30

2.36

2.06

2037

17.46

15.55

-1.91

215

0.32

2.36

2.04

2038

17.48

15.56

-1.92

207

0.34

2.36

2.02

2039

17.48

15.56

-1.91

198

0.36

2.36

2.01

2040

17.46

15.57

-1.90

190

0.38

2.37

1.99

2041

17.45

15.57

-1.88

182

0.40

2.37

1.97

2042

17.43

15.57

-1.86

174

0.42

2.37

1.96

2043

17.41

15.57

-1.84

166

0.43

2.38

1.94

2044

17.41

15.58

-1.83

157

0.45

2.38

1.93

2045

17.41

15.58

-1.83

149

0.47

2.38

1.91

2046

17.42

15.59

-1.84

141

0.49

2.39

1.89

2047

17.43

15.59

-1.84

132

0.51

2.39

1.88

2048

17.43

15.59

-1.84

123

0.53

2.39

1.86

2049

17.44

15.60

-1.84

115

0.55

2.40

1.85

2050

17.46

15.60

-1.86

106

0.57

2.40

1.83

2051

17.48

15.61

-1.87

97

0.58

2.40

1.82

2052

17.51

15.61

-1.90

87

0.60

2.41

1.80

2053

17.56

15.62

-1.94

78

0.62

2.41

1.79

2054

17.61

15.62

-1.99

68

0.64

2.41

1.77

2055

17.67

15.63

-2.04

57

0.66

2.42

1.76

2056

17.73

15.64

-2.10

47

0.67

2.42

1.75

2057

17.80

15.64

-2.16

36

0.69

2.42

1.73

2058

17.87

15.65

-2.22

24

0.71

2.43

1.72

2059

17.93

15.66

-2.27

12

0.72

2.43

1.71

2060

17.99

15.66

-2.33

0

0.73

2.43

1.70

2061

18.05

15.67

-2.39

----

0.75

2.43

1.69

2062

18.11

15.67

-2.44

----

0.76

2.44

1.68

2063

18.17

15.68

-2.49

----

0.77

2.44

1.67

2064

18.23

15.68

-2.54

----

0.78

2.44

1.66

2065

18.29

15.69

-2.60

----

0.79

2.44

1.65

2066

18.34

15.70

-2.65

----

0.80

2.45

1.65

2067

18.40

15.70

-2.70

----

0.81

2.45

1.64

2068

18.46

15.71

-2.75

----

0.81

2.45

1.64

2069

18.52

15.71

-2.80

----

0.82

2.45

1.63

2070

18.57

15.72

-2.85

----

0.83

2.46

1.63

2071

18.62

15.72

-2.90

----

0.84

2.46

1.62

2072

18.66

15.73

-2.93

----

0.84

2.46

1.62

2073

18.69

15.73

-2.96

----

0.85

2.46

1.61

2074

18.72

15.73

-2.98

----

0.85

2.46

1.61

2075

18.74

15.74

-3.00

----

0.85

2.46

1.61

2076

18.75

15.74

-3.01

----

0.86

2.47

1.61

2077

18.75

15.74

-3.01

----

0.86

2.47

1.61

2078

18.75

15.74

-3.01

----

0.86

2.47

1.61

2079

18.76

15.74

-3.01

----

0.86

2.47

1.61

2080

18.76

15.74

-3.02

----

0.86

2.47

1.61

2081

18.78

15.75

-3.03

----

0.86

2.47

1.61

2082

18.80

15.75

-3.05

----

0.87

2.48

1.61

2083

18.83

15.75

-3.08

----

0.87

2.48

1.61

2084

18.87

15.76

-3.12

----

0.87

2.48

1.61

2085

18.92

15.76

-3.16

----

0.87

2.48

1.61

2086

18.97

15.77

-3.20

----

0.88

2.48

1.60

2087

19.02

15.77

-3.25

----

0.88

2.48

1.60

2088

19.07

15.77

-3.30

----

0.88

2.48

1.60

2089

19.13

15.78

-3.35

----

0.89

2.49

1.60

&nbsp

Summarized Estimates

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

Years

Costrate

Incomerate

Actuarialbalance

Year of reserve depletion1

Costrate

Incomerate

Actuarialbalance

Based on Intermediate Assumptions of the 2014 Trustees Report.

2014-2088

17.22%

16.25%

-0.97%

2060

0.45%

2.36%

1.91%

&nbsp

1 Under present law, the year of Trust
Fund reserve depletion is 2033.